RIYADH: Saudi Arabia and the UK are set to strengthen their economic ties through more than £360 million ($445 million) in joint investments, Business Secretary Jonathan Reynolds said on Wednesday.
The British official was speaking at the Great Futures Summit in London, a high-profile gathering of C-suite executives aimed at boosting trade and unlocking growth opportunities between the two countries.
The new investments are expected to generate 187 jobs, including 97 in the UK, focusing on clean energy, professional, and financial services sectors. Reynolds highlighted that the summit offers a platform for collaboration aligned with the UK’s modern Industrial Strategy and Saudi Arabia’s Vision 2030, demonstrating the countries’ commitment to shared economic growth.
Significant investments into the UK include Alfanar establishing its new headquarters in London as a global hub for transport decarbonization, and International Investment Gate opening its European headquarters in the capital to manage UK assets and a new property fund.
Projects expected to create 187 jobs: 97 in the UK and 90 in Saudi Arabia, spanning clean energy, professional services, and financial sectors.
